La Implementación de BEPS Acción 13 en LATAM (Spanish version)

Tax administrations and international economic organizations have reached consensus for implementing international measures that will promote tax transparency amongst the business community.

In this sense, OECD’s BEPS Action Plan 13 addresses ‘Guidance on the Implementation of Transfer Pricing Documentation and Country-by-Country Reporting’. The aim of this Action Plan is to enhance transparency for tax administrations by providing them with adequate information to conduct transfer pricing risk assessments and examinations. To tackle these issues, Action Plan 13 introduced a four-tiered approach that should allow tax administrations to compile relevant data on how multinational companies allocate taxable revenues and liabilities across the various countries where they operate:  Tier 1) a Masterfile, Tier 2) a Local file, Tier 3) Country by Country (CbC) Reporting and Tier 4) Local transfer pricing forms.

Only a few countries in Latin American (LATAM) have effectively implemented these four layers of transfer pricing documentation (Mexico, Colombia), whereas others are in the process of implementing them (Peru, Uruguay, Argentina), and others have only implemented one layer (the CbC Reporting – Chile and Brazil). However, other countries in LATAM have local transfer pricing documentation requirements which already contain some of the elements which are required by Action Plan 13. Considering these facts, what can be expected from these countries and from other LATAM countries in the context of Action Plan 13?